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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax -- it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles simpson, by the way. get the rates down, lower deductions and exemptions, to create more jobs, because getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would just say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense, over ten years, that's more than our entire defense b
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax -- it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles...
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what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a math problem. they can't pay for it. if they can't pay for it, then they are going to raise taxes on the middle class. that's what the economic studies have shown. and look, i don't know anybody who thinks we're another tax cut for a millionaire away from a stronger middle class. that's just not how we have built our economy before and it's not how we're going to continue to make our country on the debate moderator to do itill ?e present be >> ihink the debate morato think the president will push back pticularly on some of thes
what about this tax plan. is president obama obligated to supporters to point out to them that this is flawed? what do you think? >> i think the moderators are going e to ask governor romney about a lot of the things that you just talked about. i hope the moderator gives governor romney a chance to do what paul ryan said he didn't have time to do and that is explain how they pay for a $5 trillion tax cut. as you pointed out, ed, it is a time problem that is vexing in this budget. it's a...
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if they can't pay for it to provide the tax cut for the rich then they're going to raise taxes on the middle class. that's what the economic studies have shown. look, i don't know anybody who thinks we' we're another tax cu a millionaire away from a stronger middle class. >> watch ed schultz every night at 8:00 p.m. eastern on "the ed show" on msnbc. >>> a judge in pennsylvania has blocked the state's stricter voter inch d. law. ruling means that voters in pennsylvania will not have to show a state-approved i.d. to cast ballots on election day. the judge said he was concerned that the law could prevent some people from voting. the stricter voter i.d. laws in four states remain but tougher laws in at least six other states were either shelved or watered down, including those in a few swing states. >>> american airlines now says it knows why passenger seats broke loose causing a pair of emergency landings. they originally called for 8 of its aircraft to be inspected, later ordered 47 aircraft to be checked. they blame the problem on clamps that were not properly installed. they continue
if they can't pay for it to provide the tax cut for the rich then they're going to raise taxes on the middle class. that's what the economic studies have shown. look, i don't know anybody who thinks we' we're another tax cu a millionaire away from a stronger middle class. >> watch ed schultz every night at 8:00 p.m. eastern on "the ed show" on msnbc. >>> a judge in pennsylvania has blocked the state's stricter voter inch d. law. ruling means that voters in pennsylvania...
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for every american that pays taxes, if the bush tax cuts expire, their taxes go up. president obama wants to vary that for people at $250,000, that's just the reality of it. >> this is a very important point about the distributional impacts of our tax policy. my understanding is that there had been a difference between mitt romney and the president. that mitt romney wants to make sure he preserves the tax cuts for those at the high end and the president doesn't want to. i want to establish for people watching that is still the case. >> of course it is. mitt romney wants the bush tax cuts -- >> for high income earners. >> for everyone. if you leave those alone, there's no tax increase. if you get rid of the tax cuts for anybody, there will be an increase. the government is wasting enough money already. i believe in the ronald reagan approach -- if i can finish my answer, you should not feed the beast. let's put the beast on a diet and spend a little less money. >> did the department of homeland security, does that count as feeding the beast or not? >> i have no contra
for every american that pays taxes, if the bush tax cuts expire, their taxes go up. president obama wants to vary that for people at $250,000, that's just the reality of it. >> this is a very important point about the distributional impacts of our tax policy. my understanding is that there had been a difference between mitt romney and the president. that mitt romney wants to make sure he preserves the tax cuts for those at the high end and the president doesn't want to. i want to...
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i was going to ask you the taxes issue. having the democrat lead on taxes can't be good for a republican. >> we had the second cycle in a row where obama's run and tried to neutralize a tax advantage. again, part of it and thas is what is really new to our poling. more afffluent people think obama is the biggest threat to them. lower income people think mitt romney is. we are seeing cultural differences by income that are interesting. >> the romney quality advantages what i want to do with you federal budget deficit up nine. dealing with china as an economic rival up eight. on the economy up three. changing business as usual in washington is dead even. if you are the obama campaign what concerns you the most here? the deficit number? >> probably the deficit. i think if you are the president's campaign you're less worried about romney's numbers right now. on the one hand the 40% right direction is the highest it has been in 3 1/2 years and any incumbent heading in that is momentum. 53% say the country is headed in the wrong
i was going to ask you the taxes issue. having the democrat lead on taxes can't be good for a republican. >> we had the second cycle in a row where obama's run and tried to neutralize a tax advantage. again, part of it and thas is what is really new to our poling. more afffluent people think obama is the biggest threat to them. lower income people think mitt romney is. we are seeing cultural differences by income that are interesting. >> the romney quality advantages what i want to...
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>> if you extend the bush tax cuts you don't cut taxes you keep taxes where they are. if you don't extend the bush tax cuts you raise taxes. if you don't extend the bush tax cuts in total you raise taxes. >> they're set to expire. it was your party that set them to expire. i would add. i wasn't -- sitting here at the desk i didn't do that the republican party was the one that decided to do that so you guys had to deal with the sunset provision. >> it's not an accounting measure. they're going to -- of course it's an accounting measure. >> i pay a certain level of tax this career. next year if the bush tax cuts expire i get a big tax increase but if the bush tax cuts don't expire i pay the same tax next year the same as i do this year. >> because you make a lot of money. mr. giuliani, you have a very large tax cut because you are, to your great credit, a high-earning individual and you'll see a large bounty from the tax cut. that's the question on the table. >> stop the ad silliness. the reality is it's true for everyone. let me finish my answer, rather than yelling and
>> if you extend the bush tax cuts you don't cut taxes you keep taxes where they are. if you don't extend the bush tax cuts you raise taxes. if you don't extend the bush tax cuts in total you raise taxes. >> they're set to expire. it was your party that set them to expire. i would add. i wasn't -- sitting here at the desk i didn't do that the republican party was the one that decided to do that so you guys had to deal with the sunset provision. >> it's not an accounting...
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by tax expenditures. >> he also said he would not sign any tax deal. >> that's true. that's why you have the upsets that he's talking about. it's not going to be easy. it took three years to do it in the 1986 tax bill. it's not going to be easy here. i have to say, he outlined three ways to deal with trying to reduce the debt. he took one of them off there. you have to deal with two sides here. no taxes to deal with the deficit. is that the right thing? >> keep in mind, he made it very clear that unlike this president, who i have to like as a person. i know him well. unlike president obama, he wants to work with congress. he knows he's not going to get anything done if he doesn't work with congress. >> but he drew a line there. is that a fuzzy line? >> i'm with it on the line. one thing that has to be made very clear is the wealthy will be paying just as much as they're paying now. >> but they shouldn't pay more. >> i thought one of the best lines is that basically we're tired of trickle down government. and he turned the tables on the president. we have the president
by tax expenditures. >> he also said he would not sign any tax deal. >> that's true. that's why you have the upsets that he's talking about. it's not going to be easy. it took three years to do it in the 1986 tax bill. it's not going to be easy here. i have to say, he outlined three ways to deal with trying to reduce the debt. he took one of them off there. you have to deal with two sides here. no taxes to deal with the deficit. is that the right thing? >> keep in mind, he...
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the fact these bums don't want to pay tax and the richest guy in the world is avoiding tax. >> bill clinton has the best peripheral vision in the history of politics. he knows how to do it. clinton uses a sense of humor to do it, to make the other guy seem like a complete hypocritical phoney. rather than say the guy is a hypocritical phoney, bill clinton builds the occasion like he's talking to the jury. that's what he did there. that's the obstacle that mitt romney has. the way people view mitt romney, in the nbc poll, they still basically have a negative view of the guy. he has to come out there and say, i know how to fix the economy on your behalf, even though people know his whole life has been dedicated to flipping corporates and doing the magic that he did that got him the caymen offshore account. and $100 million i.r.a., individual retirement account. >> he has to show -- >> how does a guy -- >> how does that help us? >> -- have a $100 million individual retirement account? >> one thing president clinton has done so successfully, he's not against wealth. he's just against hypocrisy,
the fact these bums don't want to pay tax and the richest guy in the world is avoiding tax. >> bill clinton has the best peripheral vision in the history of politics. he knows how to do it. clinton uses a sense of humor to do it, to make the other guy seem like a complete hypocritical phoney. rather than say the guy is a hypocritical phoney, bill clinton builds the occasion like he's talking to the jury. that's what he did there. that's the obstacle that mitt romney has. the way people...
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of these tax cuts. but romney didn't need to address any of these specifics. he just needed to lie about it. it's a strategy another president used when he was asked about his proposed tax cuts for the rich. >> let me just tell you what the facts are. the facts are, after my plan, the wealthiest of americans pay more taxes of the percentage of the whole than they do today. >> really? here we go again. a republican candidate has a plan for massive tax cuts for the rich and tells the american people the exact opposite in a debate. it only works if the candidate is a good liar. presentation does matter. give him credit. last night mitt romney was pretty good on style, but he had a boat load of lies. check out this triple whammy where romney spits out one lie after another with complete conviction. >> we didn't raise taxes. you've raised them by $1 trillion under obama care. we didn't cut medicare, of course, we don't have medicare, but we didn't cut medicare by $716 billion. we didn't put in place a board
of these tax cuts. but romney didn't need to address any of these specifics. he just needed to lie about it. it's a strategy another president used when he was asked about his proposed tax cuts for the rich. >> let me just tell you what the facts are. the facts are, after my plan, the wealthiest of americans pay more taxes of the percentage of the whole than they do today. >> really? here we go again. a republican candidate has a plan for massive tax cuts for the rich and tells the...
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but the cut in tax rates. >> the cut in tax rates is lower -- all american tax rates by 20%. >> how much does it cost? >> it's revenue neutral. it works and you can -- >> but i have to -- you haven't given me the math. >> well, i don't have the -- it would take me too long to go through all of the math. >> you know, tonight, jim lehrer, he's a great moderator. take all of the time you want. take my time to explain how you're going to do it. yesterday romney himself told a local denver station that part of his tax plan might include a cap on deductions at 17,000 a person which would not hurt billionaires at all like him. let's take a look. >> you could say everybody's going to get up to $17,000 deduction and you can use your charitable deduction, your home mortgage deduction or others, health care deduction and you can fill that bucket, if you will, the $17,000 bucket and higher income might have a lower number or you could do it by the same method that bowles/simpson did it, which is limiting certain deductions but that's the sort of thing that -- >> well, his tighing would take him past
but the cut in tax rates. >> the cut in tax rates is lower -- all american tax rates by 20%. >> how much does it cost? >> it's revenue neutral. it works and you can -- >> but i have to -- you haven't given me the math. >> well, i don't have the -- it would take me too long to go through all of the math. >> you know, tonight, jim lehrer, he's a great moderator. take all of the time you want. take my time to explain how you're going to do it. yesterday romney...
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level with us about his tax plan which gives the wealthy huge new tax breaks? if we can't trust him here, how could we ever trust him here? >> the romney campaign has taken issue of course with what the obama campaign uses which is a tax policy center analysis. in that ad that draws on the -- to argue that mitt romney's tax plan depends on a $5 trillion tax cut that's not paid for. the conclusion they drew is the only way you offset those tax cuts over ten years, after handcuffing yourself on the pledges that romney has made to reduce tax rates across the board by 20% eliminating the alternative minimum tax and erasing the federal estate tax is to eliminate deductions that will inevitably touch the middle class. the romney folks say the obama campaign and tax policy center created a strawman. the problem is the romney campaign hasn't created their own and responded with any detail on how they would do it. it becomes impossible at least politically once you account for the pledge handcuffs that romney has made. while the president didn't fully acknowledge he cam
level with us about his tax plan which gives the wealthy huge new tax breaks? if we can't trust him here, how could we ever trust him here? >> the romney campaign has taken issue of course with what the obama campaign uses which is a tax policy center analysis. in that ad that draws on the -- to argue that mitt romney's tax plan depends on a $5 trillion tax cut that's not paid for. the conclusion they drew is the only way you offset those tax cuts over ten years, after handcuffing...
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and taxes. just after romney spent time giving the details on awful those being critical of very specific pro visions of don frank. and this is the president was not in denver. i thought he spent too much time shooting bass cats rather than prepping for this thing. we saw it. he offered up routine rogue talking point thing that's people were sitting there saying do you know what? this doesn't jive with what i've just seen happen with these two men on the stage. >> and rnc chair predicting the president would make excuses because he can't defined his record. he joins us from denver, good evening mr. chairman. tell me have you spoken to governor romney since the debate? >> i. i can tell you he was smiling and happy with how things went tonight. tonight was a historical night. and this is a sense that that is shocking. the performance but there is a problem for governor and drk-excuse me, the president, mitt romney was ready, and prepared. and he was ten yaishis and respectful. the president meande
and taxes. just after romney spent time giving the details on awful those being critical of very specific pro visions of don frank. and this is the president was not in denver. i thought he spent too much time shooting bass cats rather than prepping for this thing. we saw it. he offered up routine rogue talking point thing that's people were sitting there saying do you know what? this doesn't jive with what i've just seen happen with these two men on the stage. >> and rnc chair predicting...
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asked if woe release more taxes. there needs to be some kind of tax question tonight because the reality is that a lot of folks don't earn very much money in places here like denver are paying a higher percentage of their income than romney. romney believes there should be lower rates for investments but hasn't explained why it is fair that he pays a lower rate. >> quick on your list of questions, many have been asked to the candidates at some point or certainly, prepared to answer. will you be stunned if the questions on the stimulus on the case of the president or taxes, to romney, go unanswered without the candidate being specific? >> well, i won't be surprised at all but the nice thing about a debate is that i think the moderator, jim lehrer, is going to take a step back and allow the clash between the candidates. i think if romney gives a nonanswer to that question we just talked about obama will say, no, answer that question and that will generate an exciting back and forth and make for a great debate. sfeefrnl
asked if woe release more taxes. there needs to be some kind of tax question tonight because the reality is that a lot of folks don't earn very much money in places here like denver are paying a higher percentage of their income than romney. romney believes there should be lower rates for investments but hasn't explained why it is fair that he pays a lower rate. >> quick on your list of questions, many have been asked to the candidates at some point or certainly, prepared to answer. will...
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so if the tax plan he described were a tax plan i was asked to support, i'd say absolutely not. i'm not looking for 5i trillion tax cut. i won't put in a place a tax cut that adds to the deficit. i'm not in favor of a $5 trillion tax cut. that's not my plan. >> that's three different moments during this debate when mitt romney noticed the bump in the set for obama. what he's saying there is he's arguing against math. the idea that you can cut faxes 20%, can you tell taxes for everybody and it's deficit neutral and faye for it by closing unspecified loop moles and dealing with deductions. that is the romney position. it's up to bahama to make romney get specific about it to say okay. it's easy to say you deal with the deductions and it's easy to say it's deficit neutral and let's talk about the specific deductions and talk about the home interest deduction and health care deduction and the charitable giving deduction. these are things that people rely on and things that are popular with voters. let's put mitt romney on the spot here and say if you pay for it with deductions, this
so if the tax plan he described were a tax plan i was asked to support, i'd say absolutely not. i'm not looking for 5i trillion tax cut. i won't put in a place a tax cut that adds to the deficit. i'm not in favor of a $5 trillion tax cut. that's not my plan. >> that's three different moments during this debate when mitt romney noticed the bump in the set for obama. what he's saying there is he's arguing against math. the idea that you can cut faxes 20%, can you tell taxes for everybody...
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he has gone on the offensive against mitt romney time at bain capital, outsourcing tax returns. any state we would expect that criticism of corporation and relationship to globalization would resonate it is ohio, where globalization has taken a toll. the heart of romney's argument against obama is obama hasn't helped the economy. ohio is a state it is doing better than the national of a range the auto bailout has a practical effect on people's lives, know people working in auto plant, suppliers of auto plant and the natural gas boom, a little beneath the radar has helped the unemployment rate in ohio. that is has resulted in obama dog better nationally better than nationalism people talking about the possibility romney could pull out of ohio and still win. i think that's very difficult to envision. if romney loses ohio, in particular if ohio is long gone, obama is going to win you can the votes aren't there else where to make up for the loss of those 18 electoral votes. >> nate, i want to talk about you, talk about you for a second? >> if you really want. >> you are the politica
he has gone on the offensive against mitt romney time at bain capital, outsourcing tax returns. any state we would expect that criticism of corporation and relationship to globalization would resonate it is ohio, where globalization has taken a toll. the heart of romney's argument against obama is obama hasn't helped the economy. ohio is a state it is doing better than the national of a range the auto bailout has a practical effect on people's lives, know people working in auto plant, suppliers...
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without &pbeinn regulated - owners aren't ppying taxes... competition with casinos and lotterr retailers who follow revenue goes to the taxpayers. ii doens't go ouu to help gamblers annonymous. t doesnn' bring revenue to he state. it actually steals money from the staae because to a leeal lottery agencc t a restaurant or a bar and they are losing money."delegateepaa mmdonough doesn't understand sweepstakes games yet.- &pbeing asked to approve expanded gambling....00:23:56 "i'm here today to ssa ' govvrnor and exforcement officials' get off your utts and go to work."police in baltimore cityysent warning but thh operator of this ss... faciliiy has filed suit - in an effort to keep his gaming machines.ss enforcement is on hold - for nowwmelinda roeder - fox 55 a circuittcourt hearing on thee tomorrow. straighh ahead... a major credit carr company... targeted for its deceptive prac. &ppractices.the big bucks many americans can expeet to get back, ((break 3)) 3 aú aúst week -- diicover issued a multi-million dollar refund to week -- american ex
without &pbeinn regulated - owners aren't ppying taxes... competition with casinos and lotterr retailers who follow revenue goes to the taxpayers. ii doens't go ouu to help gamblers annonymous. t doesnn' bring revenue to he state. it actually steals money from the staae because to a leeal lottery agencc t a restaurant or a bar and they are losing money."delegateepaa mmdonough doesn't understand sweepstakes games yet.- &pbeing asked to approve expanded gambling....00:23:56 "i'm...
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tax rates. it's revenue neutral. >> it's not unless you take away the deductions. we're going to get to that. the first half. lowering the tax rates. does that cost $5 trillion? >> no. >> the master of the power point was having a hard time making a point. let's break down what paul ryan is actually saying here. romney and ryan will give $5 trillion in tax breaks to the wealthiest americans. subtract an unspecified amount of money of unnamed deductions. somehow you're going to get a revenue neutral tax plan. it's a plan so bogus not even a fox news host can understand it. >> you haven't given me the math. >> i don't have the -- it would take me too long to go through the math. >> paul ryan, paul ryan, if you want to be a heartbeat away from the presidency, we're going to have to explain your plans to the american people. take all the time you want. especially here on "the ed show." you guys have been complaining about media fairness preponderance let's talk it over. today paul ryan told a radio
tax rates. it's revenue neutral. >> it's not unless you take away the deductions. we're going to get to that. the first half. lowering the tax rates. does that cost $5 trillion? >> no. >> the master of the power point was having a hard time making a point. let's break down what paul ryan is actually saying here. romney and ryan will give $5 trillion in tax breaks to the wealthiest americans. subtract an unspecified amount of money of unnamed deductions. somehow you're going to...
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>> keeping tax rates down. by lowering tax rates, people keep more of the dollar they earn. that matters. that is pro-growth policy. that creates seven million jobs. >> that's more important than? >> than anything. >> tax breaks for millionaires and billionaires are more important than anything else? those are paul ryan's words. for bet about paying for the tax cuts that he's talking about. you know, they are here to stay if romney and ryan get elected. you can count on that. it's no wonder the romney campaign is struggling with this entire message. but when all else fails, what you got to do is blame the media. >> carrying water for barack obama? >> it kind of goes without saying that there's definitely a media bias. >> where have you seen it in this campaign where you feel they are judging you by one standard and obama by another? >> i'm not going into fit for tat. there's a media bias. and anybody with objectivity would believe that. >> blaming the media is the latest talking point for paul ryan. at a fundraiser, ryan told supporters the campaign needs their help to fight
>> keeping tax rates down. by lowering tax rates, people keep more of the dollar they earn. that matters. that is pro-growth policy. that creates seven million jobs. >> that's more important than? >> than anything. >> tax breaks for millionaires and billionaires are more important than anything else? those are paul ryan's words. for bet about paying for the tax cuts that he's talking about. you know, they are here to stay if romney and ryan get elected. you can count on...
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they can justify raising taxes on the middle class that's been buried the last four years. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states! >> today, heavy hitters are fighting back. senator marco rubio just now in denver. >> the last four years the american middle class has been buried. those aren't my words. those happened to be the words of the distinguished vice president of the united states, mr. joe biden. no, don't boo. he's the best thing we got going, guys. >> and how's this for trail mix? mitt romney got more than he bargained for when he posed at chipotle after ordering a burrito bowl in a photo op that's an internet sensation. good day, andrea mitchell live in denver at the site of tonight's presidential debate, the first time in five years that barack obama and mitt romney are going to be face-to-face in what the local newspaper is headlining as the duel in denver. joining me now for our daily fix, chris cizi
they can justify raising taxes on the middle class that's been buried the last four years. >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states! >> today, heavy hitters are fighting back. senator marco rubio just now in denver. >> the last four years the american middle class has been buried. those aren't my...
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taxes and cut everyone's income tax by 20%. the math doesn't seem to add up there. the other striking thing being he picked paul ryan, the man known for putting out -- at least more details than mitt romney, but he has not embraced. ryanism to me, at least, the core is we're going to be detailed about what conservative policy means. romney's not embraced that at all. >> good luck tonight. thank you both. new next, tick tock, tick tock. let's clear the air from a mile up. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with
taxes and cut everyone's income tax by 20%. the math doesn't seem to add up there. the other striking thing being he picked paul ryan, the man known for putting out -- at least more details than mitt romney, but he has not embraced. ryanism to me, at least, the core is we're going to be detailed about what conservative policy means. romney's not embraced that at all. >> good luck tonight. thank you both. new next, tick tock, tick tock. let's clear the air from a mile up. look, if you have...
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he wants to cut personal income taxes by 20%, corporate taxes from 35% to 25%, extend the bush tax cuts and the alternative minimum tax. that's $5 trillion, whether he likes it or not, or whether he wants to admit it or not. and he says he's going to do that all without adding to the deficits. how? he didn't say last night. and that's why most analysts have said he's either going to explode the deficits or stick it to the middle class. on medicare, he said we're not going to hurt one senior on medicare by repealing obamacare. he's going to raise -- he's going to cut benefits for seniors across america. he wasn't honest about that. you guys have the tape of him saying we don't need anymore teachers. last night he couldn't say enough about teachers. i don't want to cut teachers. i want more teachers. that's not what he said. so, i mean, again and again and again, he told a story to the american people that is completely in contrast with what he said before and unfounded in fact. and that's going to catch up with him. i think that i give him credit for a strong performance. i give him an "
he wants to cut personal income taxes by 20%, corporate taxes from 35% to 25%, extend the bush tax cuts and the alternative minimum tax. that's $5 trillion, whether he likes it or not, or whether he wants to admit it or not. and he says he's going to do that all without adding to the deficits. how? he didn't say last night. and that's why most analysts have said he's either going to explode the deficits or stick it to the middle class. on medicare, he said we're not going to hurt one senior on...
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first is the tax reform. fundamental tax reform across the board which is going to help americans put more money in their pockets for those middle class americans that do a lot of the spending in this country and i think they need it the most. >> will governor romney explain? >> on issues like health care, those are also issues that the governor will address comprehensively and talk about the specifics of how it would help households keep more money and going to help grow the entire economy. >> kevin, excuse me, sorry, didn't mean to interrupt you. >> no worries, sorry. >> will governor romney tomorrow night in denver explain exactly which deductions he would get rid of to make up for the tax cuts that he's offered? >> well, i think it's very hard in a debate to go through a negotiation, particularly when you look at broadening the tax base you're going to have to do it with congress. it's hard to get into those details. he will talk about the fundamental principles that he has with regards to tax form, helpi
first is the tax reform. fundamental tax reform across the board which is going to help americans put more money in their pockets for those middle class americans that do a lot of the spending in this country and i think they need it the most. >> will governor romney explain? >> on issues like health care, those are also issues that the governor will address comprehensively and talk about the specifics of how it would help households keep more money and going to help grow the entire...
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. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> the middle class in america is hurting. >> the middle class has been buried the last four years. >> kristen welker and peter alexander are with the obama and romney campaigns in these final hours before the first match-up, the debate tonight. we begin with kristen in nevada with the president. the president will travel to colorado in just a matter of hours. good morning. >> good morning. that's right. president obama will take off for denver in just a few hours. i'm told he'll have a little bit of down time with the first lady before the debate. he'll also do a walk through of the venue. here's how it's going to work. president obama will be given the first question. mitt romney will have the final word tonight. the debate will be broken up into six 15-minute segments for a 90-minute debate. it will include three on the economy, one on health care, one on governing and one on the state of government. the role of government, i should say. now, both candidates will be standing at podiu
. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> the middle class in america is hurting. >> the middle class has been buried the last four years. >> kristen welker and peter alexander are with the obama and romney campaigns in these final hours before the first match-up, the debate tonight. we begin with kristen in nevada with the president. the president will travel to colorado in just a matter of hours. good...
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out a deal on expiring tax cuts. the average hike would be $3,500 for middle income earners, a $2,000 increase. senate leaders say they are making progress on a plan. jack, you're a little boring. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] with less chronic osteoarthritis pain. imagine living your life with less chronic low back pain. imagine you, with less pain. cymbalta can help. cymbalta is fda-approved to manage chronic musculoskeletal pain. one non-narcotic pill a day, every day, can help reduce this pain. tell your doctor right away if your mood worsens, you have unusual changes in mood or beh
out a deal on expiring tax cuts. the average hike would be $3,500 for middle income earners, a $2,000 increase. senate leaders say they are making progress on a plan. jack, you're a little boring. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass....
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as it relates to his tax plan, he has said very clearly that, a, he wants to cut certain tax loopholes, b, he wants to keep the bush era tax cut rates in place, and c, we need to make sure we can work with congress in a bipartisan fashion to get it done. i think that's very fair, i think it's a question that will be asked of him tomorrow by jim lehrer. >> it's also been deemed as mathematically impossible. thank you. as the candidates gear up, we are headed to denver. we will broadcast live from the university of denver, so be sure to tune in tomorrow, 4:00 p.m. eastern. >>> next, the 47 and bain. sure to take center stage tomorrow. stay with us. >> you haven't given me the math. >> but, well, i don't have the time -- it would take me too lock to go through all the math. >> great answer. why? it's a great answer. why is it a great answer? well, it would take me too long to explain, but trust me, it was a great answer. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet.
as it relates to his tax plan, he has said very clearly that, a, he wants to cut certain tax loopholes, b, he wants to keep the bush era tax cut rates in place, and c, we need to make sure we can work with congress in a bipartisan fashion to get it done. i think that's very fair, i think it's a question that will be asked of him tomorrow by jim lehrer. >> it's also been deemed as mathematically impossible. thank you. as the candidates gear up, we are headed to denver. we will broadcast...
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the tax plan still doesn't add up. the question for him is whether or not he's able to obscure o that on the stage tonight. >> ezra. thank you. so chris hayes, do we end up in a mega-audience version of paul ryan saying this weekend, i don't really have the time to give you the numbers. i'd bore you if i gave you the math. >> that, to me, is the most fascinating element in this debate. is that he has said time and time again, mitt romney even said at one point, look, i learned from governor christie, if you give people details, they just use it to attack you. he has said explicitly as a matter of strategy, we won't give you more details. so how long can he avoid details on stage with the president for 90 minutes. and the other problem, it's not just bain, it's not just fact that this is the wealthiest man to run for president, well, in nominal dollars, ever, but in real dollars, in a long time. but he is proposing the same thing that republicans always propose when they get into office. the one reliable policy you can
the tax plan still doesn't add up. the question for him is whether or not he's able to obscure o that on the stage tonight. >> ezra. thank you. so chris hayes, do we end up in a mega-audience version of paul ryan saying this weekend, i don't really have the time to give you the numbers. i'd bore you if i gave you the math. >> that, to me, is the most fascinating element in this debate. is that he has said time and time again, mitt romney even said at one point, look, i learned from...
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payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5% in the red, that's right. neil: if you hear mitt romney saying i'm going to essentially get off your back, going to roll back regulations. he was not specific which, make sure the government cools it on taxes, didn't say to the degree of what allowances and writeoffs and deductions he limits, were you either troubled by the fact it might be a wash? that you, for example, in your case for your catering business, you might see, butch, no tax savings at all, but you might have a lower rate, but can't deduct as much. >> that will kill us. without disposable income for me to spend or gr
payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5%...
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on the middle class and reduce the taxes on the rich. romney took the beginning of that debate and attacked each of the points and demolished them. again, all that came from negative advertising. i think what he did last night is he dissolved $150 million of negative ads and turned them to dust. >> bill: do you have any idea why barack obama didn't mention the 47% comment? >> i was immediately struck by the fact last night in the commentary that's the first -- that's the first thing i mentioned because it was shocking. that is the best weapon that obama and he didn't use it the only possible explanation is that he thought that he is so far ahead he can sit on a lead. he doesn't need to take something that could be dangerous. because, if you get too tough, you are the incumbent, you are ahead and you get tough on the other guy. that he could be seen as negative. it could hurt obama's ora. this cool unflappable guy. that must have been the reasoning because there is no other reason. it makes no sense at all. >> bill: you don't have to do i
on the middle class and reduce the taxes on the rich. romney took the beginning of that debate and attacked each of the points and demolished them. again, all that came from negative advertising. i think what he did last night is he dissolved $150 million of negative ads and turned them to dust. >> bill: do you have any idea why barack obama didn't mention the 47% comment? >> i was immediately struck by the fact last night in the commentary that's the first -- that's the first thing...
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i call it the economy tax. it has been crushing. >> the cand dates will meet again on october caneth for debate number two. and up first, the only vice-president debate between the respect and paul ryan. >> that's the one we all want to see. thank you so much. >> the president and mitt romney not veering from their messages and taking every chance they could to hit one another on the policies. >> i know that you and your running mate is saying that and it is popular thing to say but it is not the case. i got five boys and i am used to people saying something that is not always true but keeping on repeating it and hoping i will believe it. that's not the case. i will not reduce taxes paid by high income americans. >> the fact is, if you low are the rates the way you describe, governor, it is not possible to come up with enough deductions and loop holes that only affect high income individuals to avoid raising the deficit or burdening the middle class. it is math. it is arithmetic. >> don't forget you put 90 bill
i call it the economy tax. it has been crushing. >> the cand dates will meet again on october caneth for debate number two. and up first, the only vice-president debate between the respect and paul ryan. >> that's the one we all want to see. thank you so much. >> the president and mitt romney not veering from their messages and taking every chance they could to hit one another on the policies. >> i know that you and your running mate is saying that and it is popular...
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what $5 trillion tax cut? what was being presented wasn't leadership. that's salesmanship. >> when the storm clouds clear, which romney will voters remember? the bone dry severe conservative or the misty massachusetts moderate? the paradox of the mittens, a multi volume extravaganza continues. john heilemann, what do we make, what do you specifically make, of this politico inside dope that says ann and tagg romney have been instrumental in this recalibrated mitt romney? >> i never want to take exception that anybody mike allen and jim vandehei write but maybe there's a straining to find a more biz zanty explanation than is necessarily the case. to question that ann romney was unhawpe with what was happening to her husband as any reasonable wife would be, given the way he was being portrayed and allowing people to portray himself. there's, you know, losing campaign, which the romney campaign was until the debate in denver, there's always a lot of second guessing and it started early in this campaign. she clearly has made her feelings known in a very dire
what $5 trillion tax cut? what was being presented wasn't leadership. that's salesmanship. >> when the storm clouds clear, which romney will voters remember? the bone dry severe conservative or the misty massachusetts moderate? the paradox of the mittens, a multi volume extravaganza continues. john heilemann, what do we make, what do you specifically make, of this politico inside dope that says ann and tagg romney have been instrumental in this recalibrated mitt romney? >> i never...
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for the rich and tax the middle class. you see ad after that and they are both false. i think he needs to look at the camera straight. explain in a sentence or two why each is completely false. to then turn to the president and ask him how he can premise his entire election on way of presenting the romney position that is so at odds with the truth. so, bit of defense. then i think he goes on offense. that i think is something he has to do because those images of him as kuing the taxes to the rich to -- and putting burden on the middle class is killing him. >> bret: panel, as always, from different parts of the country, thank you. steve, juan, charles. that's it. but stay tuned for final look ahead from denver as we get ready for this big night tomorrow night. [ female announcer ] food, meet flavor. flavor, meet food. it's time for swanson flavor boost. concentrated broth in easy to use packets. mix it into skillet dishes, for an instant dose of... hell-o! [ female announcer ] get recipes at flavorboost.com. droid does. and
for the rich and tax the middle class. you see ad after that and they are both false. i think he needs to look at the camera straight. explain in a sentence or two why each is completely false. to then turn to the president and ask him how he can premise his entire election on way of presenting the romney position that is so at odds with the truth. so, bit of defense. then i think he goes on offense. that i think is something he has to do because those images of him as kuing the taxes to the...
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this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. taxation. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you account for growth. energy is critical. the president pointed out that production of oil and gas in the u.s. is up but not due to his policies -- in spite of his policies. all of the increase in natural gas and oil has happened on privat
this is a tax in itself -- the economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are up, health-care costs have gone up by $2,500 per family. the question is how to get them going again. it is energy and trade. the right kind of training programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the...
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he wants to give tax cuts to people over to -- 250. repeal the estate tax and he said he also wants to increase spending for the defense industry. so i don't -- it's right there. this is what he has been running on. he says this will spark economic revival. >> so we don't know is what the president will run on. lou: we do know. he has to run on his record. what he has done is not deliver on cutting the deficit. what he has done is create over $5 trillion in deficits. and a debt of $16 trillion in total. >> see him run his record. that is what he has done. lou: i want to understand something here. is there some way he doesn't run on his record? i'm sorry. >> for the last 20 muncie has been running and his record. lou: i'm not talking about that. i'm talking about right now. governor romney put him on his record, and that was his signature achievement. >> i promise you, what they will do, they're going to fire ever nuclear bomb they have. lou: had dirty. is that what you're saying? >> at the end of the day, the fact that the man stood on
he wants to give tax cuts to people over to -- 250. repeal the estate tax and he said he also wants to increase spending for the defense industry. so i don't -- it's right there. this is what he has been running on. he says this will spark economic revival. >> so we don't know is what the president will run on. lou: we do know. he has to run on his record. what he has done is not deliver on cutting the deficit. what he has done is create over $5 trillion in deficits. and a debt of $16...